Expectations of a Financial Caregiver
Important things to know about the Expectations of a Financial Caregiver
Nearly 44 million Americans act as a caregiver to a loved one or friend each year. This may be part of long term planning or come about very quickly due to an accident or medical emergency. Regardless of the reasoning, it is important for those acting as a financial caregiver to understand the expectations and duties of this role in order to provide their loved one with the best possible care.
Using the free *Native American Financial Services Association (NAFSA) Financial Literacy Program, you can explore online playlists with many modules that relate to overall financial competency, whether this is preventing elder financial abuse or reporting elder financial abuse, our curated playlists will provide you with important information.
Expectations of a Financial Caregiver:
A financial caregiver is someone who assists elderly or incapacitated people by helping to manage their finances. As you might imagine, the level and type of care will vary person to person, and may also increase based on the status of the individual requiring care.
Our Expectations of a Financial Caregiver module, located in the Financial Caregiving playlist, assists in breaking down the different responsibilities you may encounter as a financial caregiver, talks about the types of personality traits best suited to take on this role, and discusses best practices for financial caregivers. If you’ve been following along in our financial literacy series, we’ve previously spoken about preventing elder financial abuse. As a financial caregiver, this may become part of your responsibility, and this module helps you better understand the ways to become part of a solution for the person you are providing care to. Lastly, being a financial caregiver can be a very arduous and emotional task. This module stresses the importance of self-care, and ways for the caregiver to not neglect care for themselves.
The NAFSA Financial Literacy Program provides a variety of modules and tools with easy-to-understand information to help people better comprehend their finances and make more informed decisions.
Explore the program today: https://nafsa.everfi-next.net/welcome/nafsa-achieve
*The NAFSA Financial Literacy Program content contained on the NAFSA web page(s) referenced above, and on any subsequent pages created by our service providers/partners, provides general consumer information. It is not legal advice or regulatory guidance. There may be other resources that also serve your needs and you are always encouraged to, and should, consult with your own professional advisors prior to making any financial decisions.